U.S. SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM
10-K

_________________

þ	Annual
report under Section 13 or 15(d) of the Securities Exchange Act of 1934

For the fiscal year ended December 31,
2011

 ̈	Transition
report under Section 13 or 15(d) of the Securities Exchange Act of 1934.

Commission file number: 333-18439

_________________

MOBILE AREA NETWORKS, INC.

(Name of small business issuer in its
charter)

_________________

|Florida                                  | 59-3482752         
|---------------------------------------- | -------------------
|(State or Other Jurisdiction of          | (I.R.S. Employer   
|Incorporation or Organization)           | Identification No.)
|                                         |                    
|2772 Depot Street, Sanford, Florida      | 32773              
|(Address of Principal Executive Offices) | (Zip Code)         

407-333-2350

(Issuer’s telephone Number)

_________________

Check whether the issuer: (1) filed all
reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months
(or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements
for the past 90 days. Yes þ No  ̈

Indicate by check mark if disclosure
of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best
of the registrant’s knowledge , in definitive proxy or information statements incorporated by reference in Part III of this
Form 10-K or any amendment to this Form 10-K.  ̈

Indicate by check mark if the registrant
is a large accelerated filer, an accelerated filer, or a smaller reporting company. See the definitions of “large accelerated
filer,” “accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer  ̈
Accelerated filer  ̈ Non-accelerated filer  ̈
Smaller Reporting Company þ

Indicate by check mark whether the registrant is a shell company
as defined in Rule 12-b of the Exchange Act. Yes  ̈ No þ

As of December 31, 2011, 49,060,788
shares of the registrant’s voting common stock were outstanding and held by non-affiliates.
















PART
I

Forward-Looking Statements:

In addition to historical information,
this Annual report on Form 10-K may contain statements that could constitute “forward-looking statements” under
the federal securities laws. Forward-looking statements often are characterized by terms such as “may”, “believes”,
“projects”, “expects”, or “anticipates”, and do not reflect historical facts. Forward-looking
statements involve risks, uncertainties, and other factors that may cause the Company’s actual results, performances or achievements
to be materially different from those expressed or implied by such forward-looking statements. Factors and risks that could effect
the Company’s results and achievements and cause them to materially differ from those contained in the forward-looking statements
include those identified throughout this report and in the section in Item 6, below, as well as other factors that the Company
currently is unable to identify or quantify, but that may exist in the future. In addition, the foregoing factors may effect generally
the Company’s business, results of operations, and financial position. Forward-looking statements speak only as of the date
the statement was made. The Company does not undertake and specifically declines any obligation to update any forward-looking statements
included in this report on Form 10-K.

Item 1. Business.

Mobile Area Networks, Inc. (“MANW”)
was incorporated in Texas on May 22, 1996 and a Florida corporation of the same name and purpose was formed on November 28,
1997 and became effective on January 1, 1998. The Florida corporation then became the successor in interests to the Texas
corporation of the same name. The Texas corporation transferred all right, title, and interests in and to its assets over to the
Florida Company. Such transfer was made in exchange for the Company’s issuance of stock to the Texas Company’s shareholders
on a five for one share basis. That is, each share of the previously outstanding stock was split up into five shares of the Company’s
stock. The Management of the Company had previously decided to operate from and be domiciled in the state of Florida and also decided
to streamline its corporate operations, and at the same time created more authorized shares for the corporation to use for funding
and or acquisitions. This was accomplished without diluting the ownership of the then current shareholders.

The primary effect of this action was
to change the State of Incorporation of the Company.

Mobile Area Networks, Inc. the “Company”
began operations in Heathrow, Florida in 1996, and in early 1997 the Company successfully developed, deployed, and documented the
first use of any Wireless internet or data service. This service was for users of laptop computers and stationary internet computers
“kiosks”, beginning in the Westin Hotel in Waltham (Boston), MA. and other hotels, office buildings, convention centers,
and the town of Altamonte Springs Florida. Less secure services with free access became the dominant business model, and although
technically successful, this service did not generate sufficient revenues to sustain operations, and the Company’s management
pursued other means of generating revenues to sustain the operating Company.

The Company therefore decided to enter
a core Industry to create value for its’ shareholders, and on August 12, 2002 the Company entered into an agreement
to acquire the operating assets of Vintage Industries, Inc. (“Vintage”) in a stock for assets purchase. The assets
consisted of the remnants of an ongoing plastics molding business with computerized plastics mold engineering and manufacturing
equipment including computer aided machinery, patents pending, trade secrets for a process to rapidlyproduce plastic injection
molds, numerous existing injection molds, plastics injection molding presses, office and support equipment, and the then existing
customer base of Vintage.

The Company agreed to issue 1,440,000
of its SEC Rule 144 Restricted Common Shares (having a market value of approximately $274,000 according to the trading price
of public shares on the day of the agreement), to be disbursed among the shareholders of and by Vintage Industries, Inc. Vintage
was to be dissolved and all future operations in a timely manner were to be consolidated into and owned by Mobile Area Networks,
Inc. The Company also agreed to assume responsibility for certain current and long-term liabilities of Vintage.

Simultaneous to the acquisition of the
Vintage assets, the Company acquired the complete plastic molding machinery and equipment of Recoton Corporation (at that time
a NASDAQ company) in a distress sale which allowed the Company to pay a small amount of cash, plus the agreement to furnish Recoton
with certain parts production requirements which it had been molding in-house. The effect of this transaction was to dramatically
increase production capacity for the Company. However the short term effect was detrimental to the cash position of the Company
and then shortly thereafter Recoton’s business ceased operating. At the time of Recoton’s demise the Company had consolidated
operations from four smaller facilities into one much larger manufacturing facility beginning in December, 2002. The Company
began the year 2003 as essentially a start-up molding company. In the years when the demand for these plastic services was great
Vintage did not have the capacity to increase production and after the consolidation the demand and profitability for these services
was eroded by foreign competition.







The business
and customer base changed substantially after the Vintage assets acquisition by Mobile Area Networks, Inc. Previously Vintage derived
the majority ofits revenues from one business segment which was the sporting firearms industry. Customers included many
of the well known firearms makers in the business such as Austin Halleck, Charter Arms, Colt, Henry Repeating Arms, North American
Arms, Marlin Firearms, Mossberg, Savage Arms, and Winchester. For several years the sporting arms industry suffered economically
but at the year ending 2011 the industry appeared to be improving and some of these companies remain customers of the Company.

THE FUTURE OF PLASTICS AND THE COMPANY:
During the year ended 2011, the Company generated its plastics services revenues from a diverse mix of residential and commercial
construction product parts, military and simulation training parts, orthopedic device parts, consumer product parts, sporting rifle
parts, concrete block construction parts, air conditioner parts, and military battery and gas alarm housings. The Company’s
management is also working to develop proprietary items to market in addition to custom molding in order to better control production
scheduling and costs in the future.

THE FUTURE OF PLASTIC MOLD MAKING: During
the year 2011 the Company obtained new business because of its ability to develop molds from customer’s ideas, as well as
its ability to modify and maintain molds. Many plastic molders must outsource mold maintenance whenever repairs are needed, which
causes dramatic delays in production time. The Company also offers product development prototyping and mold design to speed the
process of “Idea To Product”.

The Company is not aware of any required
government approval for any of its services, but should this need arise there is no reason for the Company to believe that it would
not be able to obtain such approvals.

The Company estimates that it has expended
approximately $795,000 on research and development during the past ten years, the majority of which has been provided by investors
in the Company and primarily with respect to the Company’s wireless systems, plastics molding systems, and new product development.
The Company is not aware of any environmental issues that may impact the Company or its services.

The Company has approximately four full
time employees including its President. In addition there are part time consultants available to the Company on an as needed basis.
The Company also has marketing arrangements with outside individuals on a commission only basis.

Item
1A. Risk Factors.

Not applicable for smaller reporting companies.

Item
1B. Unresolved Staff Comments.

None

Item
2. Properties.

On January 1, 2009, the Company
executed a new seven year lease with the same owner effective January 1, 2009 through December 31, 2015 with a base rent
of $10,500.00 and pro-rated real estate taxes plus sales taxes aggregating $13,181.33 per month.. The lease is subject to annual
increases of $.20 per square foot. The lease provides two options to renew the term for five years each. Additionally, the lease
provides the tenant with the right of first refusal to lease, under the same terms, the approximate 10,000 square feet of adjoining
space if vacant when the Company should need it. As of December 31, 2011 all office equipment and furnishings and computers
were owned by the Company outright and without leases.

The Company owns the registered trademark
“MOBILAN®”, and claims copyright ownership of other creative and derivative works. On April 28, 1998 Mobile
Area Networks, Inc. was granted U.S. Patent #5,745,884 which covers “System And Method For Billing Data Grade Network Use
On A Per Connection Basis.” There can be no guarantee of any tangible value for this patent, which was accounted for as a
fully amortized intangible asset on the balance sheet of the Company.

Item 3. Legal
Proceedings.

On October 3, 2002, a complaint
was filed against the Company with the Circuit Court of Seminole County, Florida by David Byron, a former officer and employee
of Vintage Industries, Inc., for non-delivery of 288,000 shares of restricted common stock of Mobile Area Networks, Inc., per
a general mutual release and separation agreement between Vintage Industries, Inc. and Mr. Byron. Mr. Byron is seeking
immediate delivery of 288,000 shares of Restricted Common Stock of Mobile Area Networks, Inc. and damages in the amount of the
value of the stock. The Company is withholding delivery of the shares to Vintage Industries, Inc., as it was agreed to in its
acquisition Agreement pending the return of various Vintage Industries owned assets which remain allegedly held in the possession
of and by Mr. Byron. The Company intends to vigorously defend its position as the Company has never entered into any Agreement
of any nature whatsoever with Mr. Byron. Therefore the Company
does not believe the range of loss, if any, can be reasonably estimated at this time. Accordingly, no provision for possible loss
has been made in these financial statements.

There
has never been at any time, any Agreement made by or between Mobile Area Networks, Inc., and Mr. Byron relating to stock
shares or any other matter whatsoever.

On
September 3, 2009 a complaint was filed against the company with the Circuit Court of Seminole County, Florida by Vortex Innerspace
Products, Inc. concerning the alleged debt by the Company to Vortex. The company believes that the note holder violated its agreement
to not-compete by Daryl Dockery VP and had agreed to bring the molding business of Vortex to the Company. The Company therefore
will vigorously defend its position. The Company believes that it will prevail in this action and therefore does not set aside
any reserves pertaining to this case.

On
February 17, 2010 a complaint was filed against the Company with the Circuit Court of Seminole County, Florida by Merrill Lynch
Bank USA (now Business Lenders, Inc.), regarding a former obligation to GE Capital Small Business lending by Vintage Industries
from which the Company acquired assets. The Company made all payments to date for Vintage on this obligation from the time of
the Vintage Agreement. The Company was in discussions with GECC concerning a compromise on this debt and without notice GECC sold
all of its loans. The Company is continuing to negotiate with Business Lenders, Inc., a more favorable settlement.

The
Company has not been a party to any bankruptcy proceedings.

Item 4. Submission
of Matters to a Vote of Security Holders.

None.









PART
II

Item 5. Market
for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.

On January 10, 2001, the Company’s stock began
publicly trading on the OTCBB system under the symbol “MANW” and currently trades on the OTC Pinksheets.

The following table shows the reported
high and low sales price at which the Common Stock of the Company was traded in 2011.

|               |  | High |     | Low
|-------------- |  | ---- | --- | ---
|First Quarter  |  |      | .12 |    
|Second Quarter |  |      | .11 |    
|Third Quarter  |  |      | .08 |    
|Fourth Quarter |  |      | .07 |    

The proceeds from the Company’s stock
sales to date have been and are being used primarily to fund the continuing operations of the Company’s plastics manufacturing
systems as well as for funding administrative activities and marketing programs of the Company which now includes the consolidated
plastics molding facility. The Company continues to explore acquisition opportunities in order to grow the revenue base and build
value for the Company.

As of December 31, 2011, the Company
had 416 registered shareholders of record.

Item
6. Selected Financial Data.

Item 7. Management’s
Discussion and Analysis of Financial Condition and Results of Operation.

Management’s Discussion and Analysis
or Plan of Operation should be read in conjunction with the financial statements and related notes which are contained herein in
the following pages under Item 7.

Results of Operations

Revenuesdecreased to $228,437
in 2011 from $288,483 in 2010. During 2011, several key customers suffered financial challenges which adversely affected the Company’s
expected order pattern.

Cost of Goods Sold decreased to $154,021
in 2011 from $262,268 in 2010. Raw Material purchases, Direct Labor savings and a decrease in business accounted for the change.

Total Operating Expenses decreased to
$400,631 in 2011 from $439,588 in 2010, a decrease of 8.9%.

Bad Debts expense increased to $8,500
in 2011 from $2,500 in 2010. The Allowance for Doubtful Accounts was increased to $25,000 as of December 31, 2011 from $18,500
as of December 31, 2010.

Depreciation expense was unchanged at
$6,188 for both 2011 and 2010.

Interest expense increased to $33,700
in 2011 from $17,070 in 2010. Imputed interest on Advances from Stockholders was brought up-to-date.

Outside Services increased to $15,257
in 2011 from $8,624 in 2010. The increase reflects a greater need for contracting outside services to meet certain production schedules.

Administrative Payroll and payroll taxes
decreased slightly to $199,178 in 2011 from $208,710 in 2010. Overall staffing was less in 2011.

Professional Services decreased to $9,550
in 2011 from $19,925 in 2010. The decrease reflects a 2010 switch to accruing for audit and review services rather than reporting
the expense on a cash basis.

Other Operating Expenses, which includes
such expenses as telephone, health insurance, utilities, travel, office supplies, and local taxes, decreased to $128,258 in 2011
from $176,571 in 2010, a decrease of 27%. The decrease relates to reduced spending on electric utilities, local taxes, licensing,
workmen’s compensation insurance and travel.

The Net Loss for the Period decreased
to $326,215 in 2011

from $413,373 in 2010. The decreased
loss is attributable to spending reductions.

The Company’s operating loss carry-forwards
are approximately seven million one hundred thousand dollars ($7,100,000) which are recoverable as income tax savings through
the year 2031.







Liquidity and Capital Resources

Working Capital amounted to $(537,419)
at December 31, 2011 compared to $(393,974) at December 31, 2010. There was a Bank Overdraft of $31,574 at December 31,
2011 as compared to a Bank Overdraft of $13,587 at December 31, 2010. As more fully presented under the Company’s statements
of cash flows in the accompanying financial statements, net cash used in operating activities for the year ended December 31,
2011 and 2010 was $(83,314) and $(124,067), respectively. For the years ended December 31, 2011 and December 31, 2010 cash
was provided primarily by advances from Shareholders.

The Company’s short term liquidity
and capital needs have been satisfied primarily from the continuing sale of the Company’s common stock in private sales,
and loans from shareholders. The Company continues to seek the support of underwriters and market makers for the handling of its
stock sales.

The Company’s stock registrar is
Standard Register & Transfer Company, Inc. which handles all its outside stock share registrations and transfers.

Item
7A. Quantitative and Qualitative Disclosures About Market Risk.

Not applicable for smaller reporting companies.

Item 8. Financial Statements and Supplementary Data.

See Financial Index on page F-1.

Item
9. Changes In and Disagreements With Accountants on Accounting and Financial Disclosure.

None.

Item
9A. Controls and Procedures

(a)
Management’s Annual Report on Internal Control over Financial Reporting

Evaluation
of Disclosure Controls and Procedures: As of December 31, 2011, under the supervision and with the participation of our
management, we conducted an evaluation of the effectiveness of the design and operations of our disclosure controls and procedures,
as defined in Rules 13a-15(e) promulgated under the Exchange Act Rules.

The
Company’s disclosure controls and procedures were ineffective as of December 31, 2008 due to the failure to fileManagements
Annual Report on Internal Control over Financial Reporting in our original annual report on Form 10-K/A.

Management’s
Annual Report on Internal Control over Financial Reporting:Our management is responsible for establishing and maintaining
adequate internal control over financial reporting as defined in Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act
of 1934. Our internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles. Our internal control over financial reporting includes those policies and procedures that: (i) pertain to the maintenance
of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of Mobile
Area Networks, Inc; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial
statements in accordance with generally accepted accounting principles, and that our receipts and expenditures are being made
only in accordance with authorizations of our management and our directors; and (iii) provide reasonable assurance regarding prevention
of unauthorized acquisition, use or disposition of our assets that could have a material effect on the financial statements.

Based
on this evaluation, management concluded that our internal control over financial reporting was not effective as of December 31,
2011. The determination that our internal control over financial reporting was not effective is due to the Company’s limited
resources and lack of ability to have multiple levels of transaction review. Management believes that this “lack of segregation
of duties” will be resolved as the Company’s growth provides for the necessary additional staff. Through the use of
internal consultants and the review process, management believes that the financial statements and other information presented
herewith are materially correct.

The
Company’s management, including its Chief Executive Officer and Chief Financial Officer, does not expect that its disclosure
controls and procedures, or its internal controls will prevent all error and fraud. A control system, no matter how well conceived
and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further,
the design of a control system must reflect the fact that there are resource constraints, and the benefit of controls must be
considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can
provide absolute assurance that all control issues and instances of fraud, if any, within the Company have been detected.

Our
management assessed the effectiveness of our internal control over financial reporting as of December 31, 2011. In making
this assessment, management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission
(COSO) in Internal Control-Integrated Framework. Based on its assessment and those criteria, our management has concluded that
we do not maintain effective internal control over financial reporting as of December 31, 2011.

This
Annual Report does not include an attestation report of the Company’s independent registered public accounting firm regarding
internal control over financial reporting. Management’s report was not subject to attestation by the Company’s independent
registered public accounting firm pursuant to temporary rules of the SEC that permit the Company to provide only management’s
report in this Annual Report.

This
report shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject
to the liabilities of that section, and is not incorporated by reference into any filing of the Company, whether made before of
after the date hereof, regardless of any general incorporation language in such filing.

(b)
Changes in Internal Controls

There
have been no changes in the Company’s internal control over financial reporting during the period ended December 31,
2011 that have materially affected, or are reasonably likely to materially affect, the Company’s internal controls over
financial reporting.”

Item
9B. Other Information.

None.







PART
III

Item
10. Directors, Executive Officers and Corporate Governance.

(a)	Directors
and Executive Officers:

Beginning
January 1,2011, the following individuals will comprise the Board of Directors and management team. Consistent with Florida corporate
law and the Company’s By-Laws, the Company’s Board of Directors may by unanimous vote increase the number of Board
members from time to time and or to elect members to fill vacancies, if any. At it’s December 2010 meeting, the 2010 Board
members voted to fill vacancies being created by terms expiring for then current Board members, Jerry Nettuno and Noah Savant,
The two members elected to fill these positions are reflected herein, Jerald Hoeft and Hung Ninh were elected for one year terms
each. The term for Mr. Ninh expired on December 31, 2011 and no replacement Director was elected yet to fill that position.

BOARD
OF DIRECTORS

George
E. Wimbish, age 68, is a founder of the Company and its concept, and has been a Director of the predecessor Texas Company
since November 3, 1996, and Chairman, President and CEO since March 28, 1997. His term of office is yearly until a successor
is chosen. His business experience for the past 5 years includes serving as the Company’s Chief Executive Officer. Mr. Wimbish
does not serve as a Director in any other public company. He resides in Heathrow, Florida.

Jerald
R. Hoeft, CPA,age 69, was appointed Chief Financial Officer in January, 2001 and Director in December, 2010. Mr. Hoeft
had been a practicing CPA in the Orlando area from 1999 through 2007. Prior to 1999, he was in the financial services industry
for over twenty-five years where he served as a chief financial officer and director for several leading public and privately-held
companies. Mr. Hoeft does not serve as a Director in any other public company. He resides in Heathrow, Florida.

OFFICERS

Judy
D. Wimbish:Corporate Secretary and Executive Assistant to the CEO. Mrs. Wimbish is the wife of the CEO and has served
full time with minimal compensation since the beginning of 1998 until the present.

(b)	Significant
Employees and Consultants

Paul
Savage: Research and Development Director. Mr. Savage has more than 25 years experience in Principal wireless product
design in digital, analog, RF, and microwave circuit design. He also possesses extensive field experience in the implementation
of wireless on towers and other locations. Mr. Savage currently serves in a consulting role to the Company.

(c)	Family
Relationships

Judy
D. Wimbish who serves as Executive Assistant, is the wife of CEO and majority shareholder George Wimbish, whose shares are jointly
owned by Mrs. Wimbish. She currently serves full time with token compensation.

(d)	Certain
Legal Proceedings:

The
Company is not aware of any legal proceedings within the last five years against any Director, Officer, Significant Employee,
or candidate for any such position involving a petition under the Bankruptcy Act or any State insolvency law or of any receiver,
fiscal agent or similar officer appointed by a court for the business or property of such person or any partnership in which he
was general partner or within two (2) years before the time of such filing, or any corporation or business association of which
he was an executive officer at or within two (2) years before the time of such filing; nor is the Company aware of any of the
above-mentioned persons being convicted in a criminal proceeding; except as follows: NONE

Item
11. Executive Compensation.

The
Company’s current policy is that Directors serve without compensation. However, in the future it may be in the Company’s
best interests to compensate Directors in a manner that will attract the most qualified people to serve on the Company’s
Board. Through December 31, 2011 the officers of the Company have served mostly without compensation other than the allowance
to acquire Restricted founders stock at a preferred price. Mr. Wimbish was paid $-0- in 2011 and $10,000 in 2010. The Company’s
management may determine when it is in the best interest of the Company to compensate Officers and Directors. For the years 1998
through 2011, Mr. Wimbish’s annual salary was approved to be $120,000, a portion of which has not been paid and remains
in accrued expenses on the 2011 and 2010 balance sheets. Mr. Wimbish’s deferred salary as wages remains to be the most superior
lien upon the Company’s assets.







Item
12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.

The
following table sets forth certain information regarding beneficial ownership of the Company’s Common Stock as of December 31,
2011 with respect to each director and officer and any person who is known to the Company to be the beneficial owner of five percent
(5%) or more of the Company’s outstanding Common Stock. Also set forth in the table is the beneficial ownership of all shares
held by all directors and officers, individually and as a group.

|Name and Address of Owner                    |  | Shares Owned |            | Percent
|-------------------------------------------- |  | ------------ | ---------- | -------
|George E. Wimbish                            |  |              | 25,500,000 | (a)    
|Director, Chairman, President, & CEO         |  |              |            |        
|2772 Depot Street                            |  |              |            |        
|Sanford, Fl 32773                            |  |              |            |        
|                                             |  |              |            |        
|                                             |  |              |            |        
|Kevin J. Spolski, Building Owner             |  |              | 4,500,000  |        
|1425 E. Airport Blvd.                        |  |              |            |        
|Sanford, FL  32773                           |  |              |            |        
|Hung V. Ninh                                 |  |              | 17,000     |        
|                                             |  |              |            |        
|                                             |  |              |            |        
|Jerald R. Hoeft                              |  |              | 770,000    | (d)    
|Director, Treasurer, Chief Financial Officer |  |              |            |        
|Company Address                              |  |              |            |        
|                                             |  |              |            |        
|Subtotal                                     |  |              | 30,787,000 |        
|Other Private Shareholders                   |  |              | 16,082,488 | (b)    
|Publicly traded shares                       |  |              | 2,191,300  |        
|Total                                        |  |              | 49,060,788 |        

| | (a) | Within
                                                          the knowledge of the issuer, no other person holds or shares the power
                                                          to vote or direct the voting of securities described pursuant to subsection
                                                          (a) above. No other person holds shares or the power to vote 5% or more
                                                          of the issuer’s voting securities.
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (b) | The
                                                          Company may utilize private stock shares as incentive or compensation
                                                          for the product and service marketing efforts of the Company’s
                                                          employees, when appropriate.
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (c) | Some
                                                          of the restricted shares included in this total have been conditionally
                                                          assigned to certain employees or consultants with performance and or
                                                          tenure requirements. The possibility that all of these private shares
                                                          may or may not be rescinded would not dramatically affect this percentage.
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (d) | A
                                                          portion of these shares were acquired in private transactions between
                                                          unrelated private shareholders.
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Item
13. Certain Relationships and Related Transactions, and Director Independence.

All
transactions during the previous two years and any presently proposed transaction to which the issuer is a party in which any
person having a relationship with the issuer has a direct or indirect material interest are the following transactions, and no
others:

None.

Item
14. Principal Accounting Fees and Services.



Audit
Fees

The
Company incurred audit and review fees from its Independent Registered Public Accounting Firm, Randall N. Drake, CPA, PA the sum
of $9,000 for the year ending December 31, 2011 and $8,000 for the year ending December 31, 2010.

Audit-Related
Fees

None

Tax
Fees

None

All
Other Fees

None

PART
IV

Item
15. Exhibits, Financial Statement Schedules.







MOBILE
AREA NETWORKS, INC.

(A
FLORIDA Corporation)

Sanford,
Florida



TABLE
OF CONTENTS



|Independent Auditors’ Report                                                                  | F 2       |  |  |  | 
|--------------------------------------------------------------------------------------------- | --------- |  |  |  | 
|Balance Sheets at December 31, 2011 and 2010                                                  | F 3       |  |  |  | 
|Statements of Changes in Stockholders' Deficit for the Years Ended December 31, 2011 and 2010 | F 4       |  |  |  | 
|Statements of Operations for the Years Ended December 31, 2011 and 2010                       | F 5       |  |  |  | 
|Statements of Cash Flows for the Years Ended December 31, 2011 and 2010                       | F 6 – F 7 |  |  |  | 
|Notes to Financial Statements                                                                 | F 8 – F16 |  |  |  | 
|                                                                                              |           |  |  | 
|                                                                                              |           |  |  | 
|                                                                                              |           |  |  | 
|                                                                                              |           |  |  | 



|
|







|MOBILE AREA NETWORKS, INC. (A FLORIDA CORPORATION)           |  |      |            |     
|------------------------------------------------------------ |  | ---- | ---------- | ----
|Sanford, Florida                                             |  |      |            |     
|                                                             |  |      |            |     
|                                                             |  |      |            |     
|BALANCE SHEETS                                               |  |      |            |     
|                                                             |  |      |            |     
|December 31,                                                 |  | 2011 |            | 2010
|                                                             |  |      |            |     
|ASSETS                                                       |  |      |            |     
|                                                             |  |      |            |     
|Current Assets                                               |  |      |            |     
|Cash and Cash Equivalents                                    |  |      | —          |     
|Accounts Receivable – Net of Allowance for Doubtful Accounts |  | $    | 46,420     |     
|Inventory                                                    |  |      | 63,480     |     
|                                                             |  |      |            |     
|Total Current Assets                                         |  |      | 109,900    |     
|                                                             |  |      |            |     
|Property and Equipment – Net of Accumulated Depreciation     |  |      | 9,282      |     
|                                                             |  |      |            |     
|Other Assets                                                 |  |      |            |     
|Security Deposits                                            |  |      | 7,092      |     
|                                                             |  |      |            |     
|Total Assets                                                 |  | $    | 126,274    |     
|                                                             |  |      |            |     
|LIABILITIES AND STOCKHOLDERS’ DEFICIT                        |  |      |            |     
|                                                             |  |      |            |     
|Current Liabilities                                          |  |      |            |     
|Bank Overdraft                                               |  | $    | 31,574     |     
|Notes and Capital Leases Payable – Due Within One Year       |  |      | 108,342    |     
|Accounts Payable                                             |  |      | 87,606     |     
|Accrued Expenses                                             |  |      | 419,797    |     
|                                                             |  |      |            |     
|Total Current Liabilities                                    |  |      | 647,319    |     
|                                                             |  |      |            |     
|Other Liabilities                                            |  |      |            |     
|Notes and Capital Leases Payable – Due After One Year        |  |      | —          |     
|Accrued Salaries – Related Party                             |  |      | 1,428,048  |     
|Advances from Stockholders                                   |  |      | 455,001    |     
|                                                             |  |      |            |     
|Total Liabilities                                            |  |      | 2,530,368  |     
|                                                             |  |      |            |     
|Stockholders’ Deficit                                        |  |      |            |     
|Common Stock: No Par; 50,000,000 Shares Authorized,          |  |      |            |     
|49,060,788 Shares Issued                                     |  |      |            |     
|And Outstanding, respectively                                |  |      | 4,656,636  |     
|Paid-In Capital                                              |  |      | 56,840     |     
|Accumulated Deficit                                          |  |      | (7,117,570 | )   
|                                                             |  |      |            |     
|Total Stockholders’ Deficit                                  |  |      | (2,404,094 | )   
|                                                             |  |      |            |     
|Total Liabilities and Stockholders’ Deficit                  |  | $    | 126,274    |     



The
accompanying notes are integral part of these financial statements.









|MOBILE AREA NETWORKS, INC. (A FLORIDA CORPORATION) |  |  |                  |  |  |   |              | 
|-------------------------------------------------- |  |  | ---------------- |  |  | - | ------------ | 
|Sanford, Florida                                   |  |  |                  |  |  |   |              | 
|Stockholders’ Equity table                         |  |  |                  |  |  |   |              | 
|                                                   |  |  |                  |  |  |   |              | 
|                                                   |  |  | Number Of Shares |  |  |   | Common Stock | 
|                                                   |  |  |                  |  |  |   |              | 
|Balances – December 31, 2009                       |  |  | 48,860,788       |  |  | $ | 4,652,636    | 
|                                                   |  |  |                  |  |  |   |              | 
|Issuance of Common Stock for Cash                  |  |  | —                |  |  |   | —            | 
|                                                   |  |  |                  |  |  |   |              | 
|                                                   |  |  |                  |  |  |   |              | 
|Issuance of Common Stock for Services              |  |  | 200,000          |  |  |   | 4,000        | 
|                                                   |  |  |                  |  |  |   |              | 
|Net Loss                                           |  |  | —                |  |  |   | —            | 
|                                                   |  |  |                  |  |  |   |              | 
|Balances – December 31, 2010                       |  |  | 49,060,788       |  |  | $ | 4,656,636    | 
|                                                   |  |  |                  |  |  |   |              | 
|Issuance of Common Stock for Cash                  |  |  | —                |  |  |   | —            | 
|                                                   |  |  |                  |  |  |   |              | 
|Issuance of Common Stock for                       |  |  |                  |  |  |   |              | 
|Services                                           |  |  | —                |  |  |   | —            | 
|                                                   |  |  |                  |  |  |   |              | 
|Net Loss                                           |  |  | —                |  |  |   | —            | 
|                                                   |  |  |                  |  |  |   |              | 
|Balances – December 31, 2011                       |  |  | 49,060,788       |  |  | $ | 4,656,636    | 
|                                                   |  |  |                  |  |  |   |              | 



The
accompanying notes are integral parts of these financial statements.









|MOBILE AREA NETWORKS, INC.               |  |   |            |  
|---------------------------------------- |  | - | ---------- | -
|(A FLORIDA CORPORATION)                  |  |   |            |  
|Sanford, Florida                         |  |   |            |  
|                                         |  |   |            |  
|                                         |  |   |            |  
|STATEMENTS OF OPERATIONS                 |  |   |            |  
|                                         |  |   |            |  
|Years Ended December 31,                 |  |   | 2011       |  
|                                         |  |   |            |  
|Revenues – Net of Returns and Allowances |  | $ | 228,437    |  
|                                         |  |   |            |  
|Cost of Goods Sold                       |  |   | 154,021    |  
|                                         |  |   |            |  
|Gross Profit                             |  |   | 74,416     |  
|                                         |  |   |            |  
|Operating Expenses                       |  |   |            |  
|Bad Debts                                |  |   | 8,500      |  
|Depreciation                             |  |   | 6,188      |  
|Interest                                 |  |   | 33,700     |  
|Outside Services                         |  |   | 15,257     |  
|Administrative Payroll and Payroll Taxes |  |   | 199,178    |  
|Professional Services                    |  |   | 9,550      |  
|Other Operating Expenses                 |  |   | 128,258    |  
|Total Operating Expenses                 |  |   | 400,631    |  
|                                         |  |   |            |  
|Loss Before Provision for Taxes          |  |   | (326,215   | )
|                                         |  |   |            |  
|                                         |  |   |            |  
|Provision for Taxes                      |  |   | —          |  
|                                         |  |   |            |  
|Net Loss                                 |  | $ | (326,215   | )
|                                         |  |   |            |  
|Weighted Average Number of Common Shares |  |   |            |  
|Outstanding – Basic and Diluted          |  |   | 49,060,788 |  
|                                         |  |   |            |  
|Net Loss per Share – Basic and Diluted   |  | $ | (0.01      | )
|                                         |  |   |            |  



The
accompanying notes are an integral part of these financial statements.







|MOBILE AREA NETWORKS, INC.                                    |  |      |          |     
|------------------------------------------------------------- |  | ---- | -------- | ----
|(A FLORIDA CORPORATION)                                       |  |      |          |     
|Sanford, Florida                                              |  |      |          |     
|                                                              |  |      |          |     
|                                                              |  |      |          |     
|STATEMENT OF CASH FLOWS                                       |  |      |          |     
|                                                              |  |      |          |     
|Years Ended December 31,                                      |  | 2011 |          | 2010
|                                                              |  |      |          |     
|Cash Flows Used By Operating Activities                       |  |      |          |     
|                                                              |  |      |          |     
|Net Loss                                                      |  | $    | (326,215 | )   
|                                                              |  |      |          |     
|Adjustments to Reconcile Net Loss to                          |  |      |          |     
|Net Cash Flows Used By Operating Activities:                  |  |      |          |     
|Common Stock issued as compensation                           |  |      | —        |     
|Depreciation                                                  |  |      | 6,188    |     
|Changes in Assets and Liabilities:                            |  |      |          |     
|Accounts Receivable                                           |  |      | (30,163  | )   
|Inventory                                                     |  |      | 4,474    |     
|Accounts Payable                                              |  |      | (9,123   | )   
|Accrued Expenses                                              |  |      | 151,525  |     
|Accrued Salaries – Related Party                              |  |      | 120,000  |     
|                                                              |  |      |          |     
|Net Cash Flows Used By Operating Activities                   |  |      | (83,314  | )   
|                                                              |  |      |          |     
|Cash Flows Used By Investing Activities                       |  |      |          |     
|Acquisition of Property and Equipment                         |  |      | —        |     
|                                                              |  |      |          |     
|Cash Flows Provided By Financing Activities                   |  |      |          |     
|Advances (Repayments) from Stockholders                       |  |      | 56,582   |     
|Proceeds from Issuance of Common Stock                        |  |      | —        |     
|Repayment of Notes and Capital Leases Payable                 |  |      | 8,745    |     
|                                                              |  |      |          |     
|Net Cash Flows Provided By Financing Activities               |  |      | 65,327   |     
|                                                              |  |      |          |     
|Net Change in Cash and Cash Equivalents                       |  |      | (17,987  | )   
|                                                              |  |      |          |     
|Cash and Cash Equivalents (Bank Overdraft)– Beginning of Year |  |      | (13,587  | )   
|                                                              |  |      |          |     
|Cash and Cash Equivalents (Bank Overdraft) – End of Year      |  | $    | (31,574  | )   



The
accompanying notes are an integral part of these financial statements.









|MOBILE AREA NETWORKS, INC.           |  |   |        | 
|------------------------------------ |  | - | ------ | 
|(A FLORIDA CORPORATION)              |  |   |        | 
|Sanford, Florida                     |  |   |        | 
|                                     |  |   |        | 
|                                     |  |   |        | 
|STATEMENTS OF CASH FLOWS – continued |  |   |        | 
|                                     |  |   |        | 
|Years Ended December 31,             |  |   | 2011   | 
|                                     |  |   |        | 
|Supplemental
    Disclosures         |  |   |        | 
|                                     |  |   |        | 
|Interest Paid                        |  | $ | 33,700 | 
|Income
    Taxes Paid                |  |   | —      | 



The
accompanying notes are an integral part of these financial statements.









MOBILE
AREA NETWORKS, INC.

(A
FLORIDA Corporation)

Sanford,
Florida

NOTES
TO FINANCIAL STATEMENTS

Note
A -	Nature of Operations

| |  | Mobile
                                                         Area Networks, Inc. (the “Company”) was incorporated on May 23,
                                                         1996 in the State of Texas, and subsequently transferred all of its assets
                                                         to a Florida Corporation of the same name, which was formed for the purpose
                                                         of providing all aspects of wireless data communication including LAN-speed
                                                         data connectivity service to remote home-office network services and
                                                         to the Internet from frequently traveled routes and places such as hotels
                                                         and airports.
| |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | Operations
                                                         of the Company up to the date of acquiring the assets of Vintage Industries,
                                                         Inc. (“Plastics Services”), was devoted primarily to product
                                                         development and marketing, raising capital, administrative activities
                                                         and deployment of communications network infrastructure and service demonstration
                                                         systems for both the MobiLAN® and Learningport.comTM
                                                         services. Since the date of the Vintage acquisition agreement, the operations
                                                         of the Company have been devoted primarily to assimilating the assets
                                                         and operations of these Plastics Services into the Company. The primary
                                                         business function of the Plastics Services assets is the design, engineering,
                                                         production of intricate plastic molds, and the production of plastic
                                                         and rubber parts.
| |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | Resources
                                                          of the Company up to the date of the acquisition of these Plastics Services
                                                          facilities, were devoted to marketing its wireless internet services.
                                                          Since the date of the assets acquisition agreement, the resources of
                                                          the Company have been devoted to assimilating consolidating the assets
                                                          and operations of Plastics Services into the Company. Both MobiLAN®and Learningport.comTM no longer continue as separate divisions
                                                          of the Company.
| |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Note
B -	Summary of Significant Accounting Policies

| |  | Method
                                                         of Accounting
| |  | -----------------------------------------------------------------------------

| |  | The
                                                         Company maintains its books and prepares its financial statements on
                                                         the accrual basis of accounting.
| |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Cash
and Cash Equivalents

Cash
and cash equivalents include time deposits, certificates of deposit, and all highly liquid debt instruments with original maturities
of three months or less.

| |  | Allowance
                                                         for Doubtful Accounts and Bad Debts
| |  | ------------------------------------------------------------------------------------------------------

The
Company provides for estimated losses on accounts receivable based on prior bad debt experience and a review of existing receivables.
Based on these factors, there is an allowance for doubtful accounts of $25,000 as of December 31, 2011 and $18,500 as of
December 31, 2010.











MOBILE
AREA NETWORKS, INC.

(A
FLORIDA Corporation)

Sanford,
Florida

NOTES
TO FINANCIAL STATEMENTS

Note
B -	Summary of Significant Accounting Policies - continued

| |  | 
| |  | 

| |  | Inventory
| |  | ---------

| |  | Inventory
                                                         consists of raw materials, work-in-process, and finished goods, and is
                                                         stated at the lower of cost or market using the first-in, first-out method.
| |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | Property,
                                                         Equipment and Depreciation
| |  | ---------------------------------------------------------------------------------------------

| |  | Property
                                                         and equipment are stated at cost, less accumulated depreciation computed
                                                         using the straight line method over the estimated useful lives as follows:
| |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Manufacturing
    Equipment         | 5
    Years
|----------------------------------- | -----------
|Computer Equipment
    and Software | 5 Years    
|Office Furniture
    and Equipment  | 5 - 7 Years
|Leasehold Improvements              | 5 Years    

| |  | Maintenance
                                                          and repairs are charged to expense. The cost of the assets retired or
                                                          otherwise disposed of and the related accumulated depreciation are removed
                                                          from the accounts.
| |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | Advances
                                                         from Stockholders
| |  | -----------------------------------------------------------------------------------

| |  | Advances
                                                         from stockholders consists of advances due on demand for working capital
                                                         purposes. The amount due has an unstated interest rate and contains no
                                                         formal repayment terms. Accordingly, the Company has imputed interest
                                                         at the prime rate plus 1%. Imputed interest expense for the years ended
                                                         December 31, 2011 and 2010 was $16,372 and $3,356, respectively.
| |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | Revenue
                                                         Recognition
| |  | ----------------------------------------------------------------------------

| |  | Revenues
                                                         from product sales are recognized when both the goods are shipped and
                                                         the customer’s right of return has expired for Plastics Services.
                                                         Unearned revenue results from deposits received on jobs still in progress.
| |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | Use
                                                         of Estimates
| |  | -------------------------------------------------------------------------

| |  | The
                                                         preparation of financial statements in conformity with generally accepted
                                                         accounting principles requires management to make estimates and assumptions
                                                         that affect the reported amounts of assets and liabilities and disclosure
                                                         of contingent assets and liabilities at the date of the financial statements
                                                         and the reported amounts of revenues and expenses during the reporting
                                                         period. Actual results can differ from those estimates.
| |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | Concentrations
                                                         of Credit Risk
| |  | --------------------------------------------------------------------------------------

Financial
instruments, which potentially expose the Company to significant concentrations of credit risk, consist principally of bank deposits,
which may at times exceed federally insured limits, and trade accounts receivable. The Company had no cash balances that exceeded
insured limits at December 31, 2011 or 2010. Cash is placed primarily in high quality short-term interest bearing financial
instruments.





MOBILE
AREA NETWORKS, INC.

(A
FLORIDA Corporation)

Sanford,
Florida

NOTES
TO FINANCIAL STATEMENTS



Note
B -	Summary of Significant Accounting Policies - continued

Concentrations
of Credit Risk - continued

| |  | The
                                                         Company had two significant customers representing fifty-five percent
                                                         (55%) of total 2011 and 2010 sales. As of December 31, 2011, the two
                                                         significant customers comprised approximately sixty percent (60.0%) of
                                                         the accounts receivable balance. As of December 31, 2010, two significant
                                                         customers comprised approximately fourteen percent (14.0%) of the accounts
                                                         receivable balance.
| |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | The
                                                         Company periodically monitors the credit worthiness of its customers
                                                         to which it grants credit terms in the ordinary course of business and
                                                         maintains an allowance for anticipated credit losses.
| |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | Fair
                                                         Value of Financial Instruments
| |  | --------------------------------------------------------------------------------------------

| |  | The
                                                         fair value of cash and cash equivalents, accounts receivables, inventory,
                                                         security deposits, accounts payable, and accrued expenses approximated
                                                         book value at December 31, 2011 and 2010, because of the immediate
                                                         or short-term maturity of these financial instruments.
| |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | The
                                                         fair value of property and equipment, line of credit, notes and capital
                                                         leases payable, and advances from stockholders could not be obtained
                                                         without incurring excessive costs as they have no readily determinable
                                                         market price.
| |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | Stock
                                                         Transactions
| |  | ---------------------------------------------------------------------------

| |  | Shares
                                                         of common stock or common stock equivalents issued for services performed
                                                         are valued at either the fair value of the equity instruments issued
                                                         or the value of services performed, whichever is the more reliable measure.
| |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | During
                                                         the year ended December 31, 2011, there was not any shares issued
                                                         in satisfaction of services to the Company.
| |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | Net
                                                         Loss Per Common Share
| |  | ----------------------------------------------------------------------------------

| |  | Basic
                                                         Earnings Per Share is calculated by dividing loss available to common
                                                         stockholders by the weighted averagenumber of common shares outstanding
                                                         for each period. Diluted Earnings per share is the same as Basic Earnings
                                                         Per Share since no common stock equivalents were outstanding for the
                                                         years ended December 31, 2011 and 2010.
| |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | Reclassifications
| |  | -----------------

| |  | Certain
                                                         amounts in the prior year financial statements have been reclassified
                                                         to conform to the current year presentation.
| |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





MOBILE
AREA NETWORKS, INC.

(A
FLORIDA Corporation)

Sanford,
Florida

NOTES
TO FINANCIAL STATEMENTS



Note
B -	Summary of Significant Accounting Policies - continued

| |  | Income
                                                         Taxes
| |  | ---------------------------------------------------------------------

| |  | The
                                                         Company accounts for income taxes using the asset and liability approach,
                                                         which requires recognition of deferred tax liabilities and assets for
                                                         the expected future tax consequences of temporary differences between
                                                         the carrying amounts and the tax basis of such assets and liabilities.
                                                         This method utilizes enacted statutory tax rates in effect for the year
                                                         in which the temporary differences are expected to reverse and gives
                                                         immediate effect to changes in income tax rates upon enactment. Deferred
                                                         tax assets are recognized, net of any valuation allowance, for temporary
                                                         differences and net operating loss and tax credit carry forwards. Deferred
                                                         income tax expense represents the change in net deferred tax assets and
                                                         liability balances. The Company had no material deferred tax assets or
                                                         liabilities at December 31, 2011 and 2010.
| |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | Provision
                                                         for Income Taxes
| |  | -----------------------------------------------------------------------------------

| |  | Deferred
                                                         income taxes result from temporary differences between the basis of assets
                                                         and liabilities recognized for differences between the financial statement
                                                         and tax basis thereon, and for the expected future tax benefits to be
                                                         derived from net operating losses and tax credit carry forwards. The
                                                         Company has approximately seven million one hundred thousand dollars
                                                         ($7.1 million) in net operating losses as of December 31, 2011,
                                                         and a valuation allowance equal to the tax benefit of the accumulated
                                                         net operating losses has been established since it is uncertain that
                                                         future taxable income will be realized during the applicable carry-forward
                                                         periods. Accordingly, no income tax provision has been recognized in
                                                         the accompanying financial statements.
| |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Note
C-Recently Issued Accounting Pronouncements

| |  | We
                                                         have reviewed accounting pronouncements and interpretations thereof issued
                                                         by the FASB, AICPA and the SEC that have effectiveness dates during the
                                                         periods reported and in future periods. Management does not believe that
                                                         any of those pronouncements will have a material impact on the Company’s
                                                         present or future financial statements.
| |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Note
D -	Accounts Receivable

| |  | Accounts
                                                         receivable consisted of the following:
| |  | --------------------------------------------------------------------------------------------------------

|December 31,                          |  | 2011 |        | 2010
|------------------------------------- |  | ---- | ------ | ----
|                                      |  |      |        |     
|Trade                                 |  | $    | 71,420 |     
|Reproductions                         |  |      | —      |     
|                                      |  | $    | 71,420 |     
|Less: Allowance for Doubtful Accounts |  |      | 25,000 |     
|                                      |  |      |        |     
|Net Accounts Receivable               |  | $    | 46,420 |     



Note
E -	Inventory

| |  | Inventory
                                                         consisted of the following:
| |  | ----------------------------------------------------------------------------------------------

|December 31,    |  | 2011 |        | 2010
|--------------- |  | ---- | ------ | ----
|                |  |      |        |     
|Raw Materials   |  | $    | 63,480 |     
|Work-in-Process |  |      | —      |     
|Finished Goods  |  |      | —      |     
|                |  |      |        |     
|Total Inventory |  | $    | 63,480 |     







MOBILE
AREA NETWORKS, INC.

(A
FLORIDA Corporation)

Sanford,
Florida

NOTES
TO FINANCIAL STATEMENTS



Note
F -	Property and Equipment

| |  | Property
                                                         and equipment consisted of the following:
| |  | -----------------------------------------------------------------------------------------------------------



|December 31,                    |  | 2011 |         | 2010
|------------------------------- |  | ---- | ------- | ----
|                                |  |      |         |     
|Manufacturing Equipment         |  | $    | 722,467 |     
|Computer Equipment and Software |  |      | 66,912  |     
|Office Furniture and Equipment  |  |      | 73,665  |     
|Leasehold Improvements          |  |      | 42,921  |     
|                                |  | $    | 905,965 |     
|Less: Accumulated Depreciation  |  |      | 896,683 |     
|                                |  |      |         |     
|Net Property and Equipment      |  | $    | 9,282   |     



| |  | Depreciation
                                                         expense for the years ended December 31, 2011 and 2010 was $6,188
                                                         and $6,188, respectively.
| |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Note
G -	Notes and Capital Leases Payable

| |  | Notes
                                                         and capital leases payable consisted of the following:
| |  | ---------------------------------------------------------------------------------------------------------------------



|December 31,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |  | 2011 |        | 2010
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | ---- | ------ | ----
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |  |      |        |     
|Notes Payable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  |      |        |     
|Business Lenders, LLC                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |  |      |        |     
|Note payable due June, 2008, payable in monthly installments of $6,955, including principal and interest at prime plus 21⁄4% (6.50% at December 31, 2011). The loan is secured by certain equipment of Vintage Industries, Inc. in excess of $350,000 with personal guarantees by four shareholders of Vintage Industries, Inc. with their residences pledged as additional security, and a guarantee by the Small Business Association.  The loan is in dispute and is in litigation. (See Note I ) |  | $    | 54,653 |     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |  |      |        |     
|Vortex Innerspace Products, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |  |      |        |     
|Note payable due April, 2011, payable in monthly installments of $1,771.44, including principal and interest of 4.0%. Late payments beyond ten days are subject to a penalty of $50.  This loan is in dispute and is in litigation. (See Note I )                                                                                                                                                                                                                                                  |  |      | 53,689 |     







MOBILE
AREA NETWORKS, INC.

(A
FLORIDA Corporation)

Sanford,
Florida

NOTES
TO FINANCIAL STATEMENTS



Note
G -	Notes and Capital Leases Payable - continued



|December 31,                           |  | 2011 |         | 2010
|-------------------------------------- |  | ---- | ------- | ----
|                                       |  |      |         |     
|Total Notes and Capital Leases Payable |  | $    | 108,342 |     
|                                       |  |      |         |     
|Less: Amount Due Within One Year       |  |      | 108,342 |     
|                                       |  |      |         |     
|Amount Due After One Year              |  | $    | —       |     



| |  | Annual
                                                         maturities of notes and capital leases payable for the five years succeeding
                                                         December 31, 2011 are as follows:
| |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|2012 |         | 2013 |  | 2014 |   | 2015 |  | 2016 |   | Thereafter |  | Total
|---- | ------- | ---- |  | ---- | - | ---- |  | ---- | - | ---------- |  | -----
|$    | 108,342 |      |  | $    | — |      |  | $    | — |            |  | $    



| |  | Interest
                                                         expense on the notes payable for the years ended December 31, 2011
                                                         and 2010 was $33,700 and $17,070, respectively
| |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





MOBILE
AREA NETWORKS, INC.

(A
FLORIDA Corporation)

Sanford,
Florida

NOTES
TO FINANCIAL STATEMENTS

Note
H -	Leases

| |  | The
                                                         Company entered into a building lease for office and manufacturing space
                                                         on January 1, 2009 for 25,000 square feet for a term of five years with
                                                         two options to renew for five years each.
| |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | Future
                                                         minimum lease payments for the five years succeeding December 31,
                                                         2011 is as follows:
| |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|2012 |         | 2013 |  | 2014 |         | 2015 |  | 2016 |         | Total
|---- | ------- | ---- |  | ---- | ------- | ---- |  | ---- | ------- | -----
|$    | 163,505 |      |  | $    | 168,833 |      |  | $    | 174,162 |      



Note
I -	Acquisitions

Vintage
Industries, Inc.

| |  | On
                                                       August 12, 2002, Mobile Area Networks, Inc. (“the Company”)
                                                       entered into an asset purchase agreement to acquire all of the operating
                                                       assets of Vintage Industries, Inc. (“Vintage”) in a stock forassets purchase. The assets acquired consisted of remnants of an
                                                       on going business with computerized plastics molds engineering and manufacturing
                                                       equipment including a complete machine tool shop, patents pending for a
                                                       process that rapidly produces plastic injection molds, numerous plastics
                                                       injection molds and molding presses, all office and support equipment,
                                                       and the then existing customer base of the company.
| |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | The
                                                          Company pledged 1,440,000 shares of Restricted Common Stock, with a
                                                          fair market value of approximately $274,000 according to the trading
                                                          price of public shares on the day of the agreement, to be disbursed
                                                          among the then shareholders of and by Vintage Industries, Inc. Vintage
                                                          was to be dissolved in a timely manner, and future operations were to
                                                          continue as a business segment of the Company. The Company also agreed
                                                          to assume responsibility for certain current and long-term liabilities
                                                          of Vintage. The alleged GECC-Merrill Lynch-Business Lenders note remains
                                                          unpaid as of December 31, 2011 (Note I). After the issuance of
                                                          the shares used in this transaction, the effect would be that the former
                                                          shareholders of Vintage would then own jointly approximately four percent
                                                          (4%) of the then outstanding shares of the Company. The agreement also
                                                          includes a Non-Competition Agreement from the former shareholders of
                                                          Vintage for three years as well as a stock share “leak-out”
                                                          restriction clause.
| |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | 
| |  | 





MOBILE
AREA NETWORKS, INC.

(A
FLORIDA Corporation)

Sanford,
Florida

NOTES
TO FINANCIAL STATEMENTS



Note
J -	Litigation

| |  | On
                                                          October 3, 2002, a complaint was filed against the Company with
                                                          the Circuit Court of Seminole County, Florida by David Byron, a former
                                                          officer and employee of Vintage Industries, Inc., for non-delivery of
                                                          288,000 shares of Restricted Common Stock of Mobile Area Networks, Inc.,
                                                          per a general mutual release and separation agreement between Vintage
                                                          Industries, Inc. and Mr.Byron. Mr. Byron is seeking
                                                          immediate delivery of 288,000 shares of restricted common stock of Mobile
                                                          Area Networks, Inc. and damages in the amount of the value of the stock.
                                                          The Company is withholding delivery of the shares to Vintage Industries,
                                                          Inc., as it was agreed to in its acquisition Agreement pending the return
                                                          of various Vintage Industries owned assets which remain allegedly held
                                                          in the possession of and by Mr. Byron. The Company intends to vigorously
                                                          defend its position as the Company has never entered into any Agreement
                                                          of any nature whatsoever with Mr. Byron. Therefore the Company
                                                          does not believe the range of loss, if any, can be reasonably estimated
                                                          at this time. Accordingly, no provision for possible loss has been made
                                                          in these financial statements.
| |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

There
has never been at any time, any agreement made by or between Mobile Area Networks, Inc. and Mr. Byron relating to stock shares
or any other matter whatsoever.

| |  | 
| |  | 

| |  | On
                                                          September 3, 2009 a complaint was filed against the company with the
                                                          Circuit Court of Seminole County, Florida by Vortex Innerspace Products,
                                                          Inc. concerning the alleged debt by the Company to Vortex. The company
                                                          believes that the note holder violated its agreement to not-compete
                                                          by Daryl Dockery VP and had agreed to bring the molding business of
                                                          Vortex to the Company. The Company therefore will vigorously defend
                                                          its position. The Company believes that it will prevail in thisaction
                                                          and therefore does not set aside any reserves pertaining to this case.
| |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  | On
                                                          February 17, 2010 a complaint was filed against the Company with the
                                                          Circuit Court of Seminole County, Florida by Merrill Lynch Bank USA
                                                          (now Business Lenders, Inc.), regarding a former obligation to GE Capital
                                                          Small Business lending by Vintage Industries from which the Company
                                                          acquired assets. The Company made all payments to date for Vintage on
                                                          this obligation from the time of the Vintage Agreement. The Company
                                                          was in discussions with GECC concerning a compromise on this debt and
                                                          without notice GECC sold all of its loans. The Company is continuing
                                                          to negotiate with Business Lenders, Inc. a more favorable settlement.
| |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------









MOBILE
AREA NETWORKS, INC.

(A
FLORIDA Corporation)

Sanford,
Florida

NOTES
TO FINANCIAL STATEMENTS



Note
K -	Related Party Transaction

| |  | The
                                                         Company’s President and Chief Executive Officer has continued to
                                                         defer a large portion of his salary until such time as the Company’s
                                                         cash position will allow such payments. Compensation of $120,000 per
                                                         year has been accrued and accounted for in the accompanying financial
                                                         statements under the Accrued Salaries - Related Party caption on the
                                                         Balance Sheet. During 2011 and 2010, the Company’s President was
                                                         paid $-0- and $10,000, respectively. The balance, $120,000 and $110,000,
                                                         respectively, was accrued.. It is acknowledged by the Company’s
                                                         management and ratified by its Board of Directors that this deferred
                                                         salary along with personal notes to the Company by the CEO and his wife
                                                         are considered wages and is the most superior lien and bond against all
                                                         of the Company’s assets.
| |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Note
L -	Going Concern

| |  | The
                                                         Company’s financial statements have been presented on the basis
                                                         that it is a going concern, which contemplates the realization of assets
                                                         and the satisfaction of liabilities in the normal course of business.
| |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | The
                                                         Company has reported net losses of $326,215 and $413,373 for the years
                                                         ended December 31, 2011 and 2010, respectively. As a result, there
                                                         is an accumulated deficit of $7,117,570 at December 31, 2011. The
                                                         primary causes of the losses are attributable to operating costs exceeding
                                                         attained sales due to foreign competition, and challenging economic conditions
                                                         for manufacturing domestically.
| |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | The
                                                         Company’s continued existence is dependent upon its ability to
                                                         raise capital and achieving profitable operations. The Company continues
                                                         to attempt to raise sufficient working capital through equity offerings,
                                                         and to eliminate debt to lower its monthly debt service payments. The
                                                         Company continues to fund operational deficits through equity financing
                                                         through private individuals. The Company is currently pursuing other
                                                         capital sources. These financial statements do not include any adjustments
                                                         that might be necessary should the Company be unable to continue as a
                                                         going concern.
| |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Note
M- Subsequent Events

| |  | Management
                                                         has evaluated events occurring subsequent to December 31, 2011 and through
                                                         March 31, 2012, the date the Company filed its annual report on Form
                                                         10-K, for their effect on these financial statements.
| |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------









Exhibits



|Exhibit |  | 31.1	CERTIFICATION
PURSUANT TO THE SARBANES-OXLEY ACT
|------- |  | -----------------------------------------------------

|Exhibit |  | 31.2	CERTIFICATION
PURSUANT TO THE SARBANES-OXLEY ACT
|------- |  | -----------------------------------------------------

|Exhibit |  | 32	CERTIFICATION
|------- |  | ----------------









SIGNATURES

In
accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.

|                           | MOBILE
    AREA NETWORKS, INC.
|-------------------------- | ------------------------------
|                           |                               
|Date:September
    17,2012 | By:                           
|                           |                               
|                           |                               



In
accordance with the Exchange Act, this report has been signed below by the following persons on behalf of the registrant and in
capacities and on the dates indicated.

|Signature               |  | Title                                               |  | Date                  
|----------------------- |  | --------------------------------------------------- |  | ----------------------
|                        |  |                                                     |  |                       
|/s/
    George Wimbish  |  | Director, Chairman,
    President, Chief Executive. |  | September
    17, 2012
|George Wimbish          |  |                                                     |  |                       
|                        |  |                                                     |  |                       
|/s/
    Jerald R. Hoeft |  | Director, Treasurer,
    Chief Financial Officer    |  | September 17,
2012    
|Jerald R. Hoeft         |  |                                                     |  |                       
|                        |  |                                                     |  |                       
|                        |  |                                                     |  |                       
|                        |  |                                                     |  |                       
|                        |  |                                                     |  |                       
|                        |  |                                                     |  |